NGO ClientEarth has launched litigation that could open the way for further legal action against company boards.
As the new rules wend their way through the EU drafting process, interested parties from all sides clamour to be heard.
This past year saw a rise in climate litigation, with a focus on the commercial sector and the exploration of claims relating to ESG issues.
Directors who pay lip service to climate-related risks may be exposed to breach of duty claims for failing to protect firms’ interests.
Shell’s directors are the first to face legal action for mismanaging climate risk. Two new INSEAD reports offer advice to board members to avoid the same fate.
Corporate governance expert says ClientEarth will struggle to prove Shell’s directors did not consider the “wider interests” of the company.
Campaign group ClientEarth claims board members have breached their directors’ duties by failing to “properly prepare” for climate change.
The IPCC’s stark warning about the rate of change needed to restrict global warming to no more than 1.5℃ intensifies the pressure on business.
Revisions to the UK Corporate Governance Code, published in July, have sparked mixed reactions from commentators. One thing is clear: the new code won’t please everyone.
New legislation will ask pension fund trustees to publish policies relating to environmental, social and governance issues, including climate change.